Re:Dividend Cripples Saudi Aramco
by Karrot_Kream on Tuesday July 13, 2021 @08:02PM
(#27827716)
> This took the total capital spending down from around US$40 billion to around US$25 billion. Further reports stated that even this US$25 billion figure was reduced by another US$5 billion, taking the total capital spending in the year from US$25 billion to US$20 billion. However, every second of every day of every month of every year - whatever Aramco does, whatever it sells, whatever it cancels, whatever it cuts back, however many people it sacks – the meter keeps on running, adding US$205 million every day
Notice the convenient change of units between billions and millions there which makes this seem much worse than it actually is. I also didn't realize Oilprice's bias, but seeing that change of units certainly warned me.
Well it goes from billion/year to million/day, which is actually closer to billion/year than billion/day. It's also a more natural way of writing it than $0.205 billion. I doubt they indented people to miss the change in units and assume aramco was losing $205 billion per day.
The dividend "millions" are per day. The capital spending "billions" are per year. We'd already repeatedly been told that the dividends were 75 billion per year.
Re:Dividend Cripples Saudi Aramco
by wavefunction on Tuesday July 13, 2021 @08:20PM
(#27827883)
What would you have preferred, US$0.205 billion every day?
Bloomberg one seems more based in facts on the ground.
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That being said: the opinionated writing style of "oilprice.com" is still helpful at possibly explaining why these assets are being sold. But facts matter and should come first: the news event (Armaco deciding to sell more assets) should be presented objectively at some point before introducing an opinion about it.